1801 Draped Bust Half Dime. LM-2. Rarity-4. AU-58 (NGC). Offered is an exceptionally well preserved example of this underrated Draped Bust half dime. Richly toned surfaces exhibit iridescent highlights of cobalt blue, golden-olive and pinkish-apricot to dominant steel and dusky gray patina. The strike is well above average for an issue that is often noticeably soft in one or more areas. Here, however, we note bold to sharp detail to all major design elements, as well as borders that are boldly denticulated apart from softness along the upper left obverse and lower left reverse. Satiny in texture and very attractive, this important condition rarity will please even the most discerning numismatists.<p>After a hiatus of two years (1798 and 1799) when no half dimes were struck, the Mint resumed production of this denomination in 1800. During the years leading up to the turn of the 19th century, Engraver Robert Scots Heraldic Eagle reverse design (copied from the Great Seal of the United States) had been introduced to more and more denominations, with its first use on the half dime in 1800. The obverse remained the Draped Bust motif, enduring on the silver coins until John Reichs Capped Bust design made its first appearance in 1807.<p>As the half dime was not a popular denomination with early depositors of silver bullion, after 1805 no more examples were struck until 1829. As well, no 1804-dated half dimes were produced. Comprising just five dates, the Draped Bust, Heraldic Eagle half dime is one of the shortest series in all of U.S. numismatics. Not surprisingly, it is also one of the most challenging types to collect in even the lowest Mint State grades. Most such pieces seem to have survived as a matter of chance, although a few of the very finest survivors may have been used for presentation to important visitors or other special persons with connections to the early Mint.<p>Official records provide a mintage figure of 27,760 half dimes for calendar year 1801. Since the early United States Mint often used dies until they broke, the number of coins struck in any given year during that era seldom corresponds to the number of pieces produced bearing a specific date. Thus we have no way of knowing exactly how many 1801-dated half dimes were struck. For many years confusion also surrounded this issue with regard to the number of die varieties known. Prior to 1986, numismatists recognized only a single variety of this date. In 1986, however, we (Stacks) had the privilege of auctioning the discovery specimen for a new marriage featuring a different obverse die. Dubbed LM-1 in recent times, that variety exhibits close spacing between the letters LIB in LIBERTY and remains very rare.<p>The wider distance between the letters LIB confirm the present example as having been struck from the LM-2 die marriage, the more plentiful variety of the issue. The 1801 half dime is almost always offered in low grades irrespective of attribution, and its true rarity in high grades is often overlooked by collectors focused on the key date 1802. The offered Choice About Uncirculated example is equally well suited for high grade type purposes or inclusion in an advanced early half dime set.
